1337 Fulton Street

Description:

A 20’ wide six-unit four story mixed use building. The property has a store on the ground floor, which also occupies the basement. The second through the fourth floors each has two one-bedroom apartments. The units are rent stabilized and the tenants are under the city program call Hasa. The store is built full, and the building has a fire escape at the front and back.

The apartments are big and spacious with a living/eating area, a full kitchen and bathroom. Nice wood floors, The units get great sunlight and are located to the front and back of the building. The apartments have
10’ ceilings, they are individually metered for gas and electric. The meters, gas boiler and water heater are in the basement. The roof is rubber with silver coating and in good condition.

The property is a prime investment opportunity, an investor can add value by combining the units and making them free market. Also using the air rights to duplex the top floor. The building is in a great location that has excellent commercial and residential exposure. Located on Fulton Street off Nostrand Avenue the property gets a lot of foot traffic from the east and west wide of the street. The A and C train and the B44 bus is on the corner, within 10 minutes the tenants can be in the city. Fulton Street is one of the busiest street in Brooklyn, with all the fast food restaurants, banks, clothing stores health food stores.
The property is also a great user opportunity, a user can have a business on the ground floor and live in one of the units above and rent out the other apartments. The zoning allows the first and second floors to be used as commercial. Note: The store is paying $6,500 and the lease expires in 9/26